Taiwan Lianjin Company promoted Hong Kong Lianjin Mining's "Gold Medal Trust Fund" with a guaranteed annual interest of 12%, but it was exposed as a fraud, resulting in heavy losses for investors. After an investigation by the Taipei District Prosecutor's Office, it was determined that Li Linhui (formerly known as Li Youzhen), the person in charge of Taiwan United Financial Corporation, and four others were guilty of fraud under the Banking Act and the Criminal Code, and public prosecutions were initiated in accordance with the law.
There are not a few victims in this case. They were all attracted by the high rewards offered by Taiwan Union Financial, but they did not know that there were huge risks hidden behind them. Taiwan Lianjin Corporation was established in 2015 with a total capital of 7.49 million yuan and was established as an overseas Chinese investor. The company recruits employees, promotes the "Gold Medal Trust Fund" to the outside world, and guarantees an annual interest of 12%. However, the Hong Kong Securities Regulatory Commission discovered that Hong Kong Lianjin Mining was an unlicensed company in October 2017 and issued a warning. However, Taiwan Lianjin Company ignored the warning and continued to promote the fund.
What is even more outrageous is that Li Yingying’s uncle Chen Guangsheng used his personal connections to actively promote funds to relatives and friends, causing more victims. In the end, the investors lost all their money and filed a complaint with the prosecutor's office. After investigation, the Taipei District Prosecutor's Office determined that Li Linhui and others were suspected of fraud, and prosecuted them in accordance with the law. Currently, the case is still in judicial proceedings.
The occurrence of this case once again reminds investors to carefully evaluate before investing and not to easily believe in high-return investment products. Pay special attention to the legality of the investment targets to avoid falling into fraud traps. At the same time, relevant government departments must also strengthen supervision to prevent similar cases from happening again.
At present, the prosecutor has launched a public prosecution in accordance with the law, and the case is still in the judicial process. In the future, whether Li Linhui, the head of Taiwan's Lianjin Company, and others will be sentenced, and whether investors can recover their losses, remains to be judged by the judiciary.
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